Federated Hermes Inc. Has $72,000 Holdings in Coterra Energy Inc. (NYSE:CTRA)

Federated Hermes Inc. lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 87.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,707 shares of the company’s stock after selling 18,053 shares during the quarter. Federated Hermes Inc.’s holdings in Coterra Energy were worth $72,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its position in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC increased its stake in Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Coterra Energy in the 1st quarter worth approximately $44,000. Harbor Investment Advisory LLC grew its holdings in shares of Coterra Energy by 869.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Coterra Energy in the first quarter worth $47,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CTRA shares. Piper Sandler dropped their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Wolfe Research began coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price for the company. Morgan Stanley reduced their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. decreased their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.59.

Coterra Energy Stock Performance

NYSE CTRA opened at $23.27 on Thursday. The company’s fifty day moving average is $24.21 and its two-hundred day moving average is $26.34. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The firm has a market capitalization of $17.20 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 1.37 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. Equities research analysts forecast that Coterra Energy Inc. will post 1.74 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.21 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.61%. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Coterra Energy Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.